Fulcrum Metals plc AIM:FMET
- Incorporated
- United Kingdom
- Chief executive
- Ryan Mee
- Employees
- 5
- Reports in
- GBP
- Companies House
- 14409193
Read straight from the annual reports
6.9p at close on 5 Oct 2026 · 4 reported years, 2022–2025
| Line | FY202212/22 | FY202312/23 | FY202412/24 | FY202512/25 | FY2026unreported |
|---|---|---|---|---|---|
| Operating profit | |||||
| Exceptional items | — | ||||
| Net finance cost | |||||
| Profit before tax | |||||
| Tax charge | |||||
| Profit for the year | |||||
| EBITDA | |||||
| Basic EPS | |||||
| Diluted EPS |
GBP millions, negatives in brackets. Per-share lines in pence, share counts in millions. later is what a following report restated the figure to; vs is a second reading that disagrees. The figure shown is the one the original filing printed, and both readings are kept. Click any figure: opens the report page it was read from, highlighted; shows how it was calculated. The share price above is drawn to the same columns: each close sits over the financial year it fell in.
4 years, at a glance
C000506-AR-2025-ch
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None: pre-revenue, no commercial revenue to date
Consolidated P&L shows no revenue line; income is limited to other operating income of £606,730 from the disposal of assets held for sale. The Remuneration Report states the Company 'has not yet generated revenues'. Value creation is described as depending on the Teck-Hughes and Sylvanite tailings projects reaching commercialisation via pilot-scale testing, a maiden MRE and future development decisions.
page 41Priorities for the remainder of 2026 and beyond: deploy and operate the pilot processing platform; advance Teck-Hughes and Sylvanite towards commercialisation; pilot-scale testing; completion of a maiden Mineral Resource Estimate at Teck-Hughes to inform the next stage of technical and economic studies.
page 620 Jan 2026: acceptance letters received for 13,774,827 warrants at £0.01 per warrant (note 28). The bonus warrant acceleration programme is separately described as raising gross proceeds of £834,575 in Jan-Feb 2026; the document does not reconcile these two figures.
page 79Financial statements prepared on a going concern basis for at least 12 months from approval (22 June 2026). Cash £281,889 at year end; post year end the Company raised £834,575 (bonus warrants) and £550,000 (subscription) and secured a £6m debt and equity package. Auditor Adler Shine LLP (Christopher Taylor FCA, senior statutory auditor) gave an unmodified opinion: true and fair view, UK-adopted IFRS, Companies Act 2006, with no material uncertainty identified over going concern. Going concern was a KAM. Other KAMs: valuation and impairment of E&E assets (£3,691,280) and recoverability of parent-company intercompany balances (£5,027,808). Overall materiality £59,000; performance materiality £44,000.
page 35- Funding and liquidity: the Company is pre-revenue and requires continuing access to capital to advance projects; cash £281,889 at year end is below current payables of £344,945 before post year-end raises.p.15
- Project development and commercialisation: success depends on metallurgical process performance, pilot-scale validation and future commercial implementation.p.15
- Resource and technical: project economics depend on resource estimation, metallurgical performance and technical studies; the maiden MRE is still pending.p.15
- Regulatory and permitting: delays in permits, approvals or regulatory consents could affect timelines.p.15
Read from C000506-AR-2025-ch.
3 annual reports read, FY2023 to FY2025
Open a year to see what its report said. Every line in it carries the page it was read from.
Sources: Companies House (3)
FY2026Next report expected 29 Jun 2027